Aardvark Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Core Insights - Aardvark Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule therapeutics for metabolic diseases, specifically targeting hunger suppression in conditions like Prader-Willi Syndrome (PWS) [4] Employee Inducement Awards - On February 9, 2026, Aardvark granted stock options to five new employees, totaling 147,213 shares of common stock, and on February 11, 2026, one additional employee received options for 5,125 shares [1] - The options were granted under the 2025 Inducement Equity Incentive Plan as an inducement for employment, in compliance with Nasdaq Listing Rule 5635(c)(4) [2] Stock Option Details - The exercise prices for the options were set at $13.48 and $12.67 for the grants on February 9 and February 11, 2026, respectively [3] - Each option will vest over four years, with 25% vesting on the one-year anniversary of employment and the remaining shares vesting monthly thereafter, contingent on continued employment [3] Company Overview - Aardvark is developing its lead compound, oral ARD-101, which is in Phase 3 clinical development for treating hyperphagia associated with PWS, a rare disease characterized by insatiable hunger [4] - The company is also working on ARD-201, a fixed-dose combination of ARD-101 with a DPP-4 inhibitor, through two Phase 2 trials aimed at addressing limitations of existing GLP-1 therapies for obesity [4]